Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 14.0% (Actual)
- Listing ID: 428864
- Posted On: Mar 17, 2014
- Updated On: Mar 15, 2016
Description
Looking for cash flow rentals? This is easy to manage and always full !
1500 S Warner Drive, Apache Junction, AZ 85120 (Pinal County)
Owner will Carry for 3 Years with $75,000.00 Down 10% Interest Only with Ballon
Or Pay cash and have no Note!
Find out more about 1500 S Warner Drive, Apache Junction
Description Great Cash Flow Rental Location , 9 Rental Units for Less then the average 4 Plex
Property is updated with 4 current rental units filled . There are two parcels with this property. 102-14-020A & 102-14-019 Warner Rd in Apache Junction is a popular rent area in this price range, this area would be a lower rent scale of 400 to 650 per month , we have turned down multiple renters after we filled the home and park mobile unit.
1 More Unit can be added to park with an added electric pedastal which will bring in an additional 400.00 per month,
I also own the adjacent park 1422 S Warner Drive , I will sell both parks for $399,000.00 to a cash buyer or buyer with lending in place.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 9 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $399 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $3,400 |
| Operating Expense: | $850 |
| Net Operating Income: | $2,550 |
| Expense Ratio: | 25.0 % |
Lot Information
| Doublewide Lots: | 1 |
RV Information
| Number of RV Lots: | 8 |
| Average RV Lot Rent: | $250 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 6 |
| Average Rent for Park-owned Homes: | $399 |